The CEO and founder of Peregrine Financial that was accused of a fraud scheme totaling a theft of over $200 million has been indicted by a federal grand jury for his crimes.
CEO Russ Wasendorf Sr. has been indicted with 31 counts of making false statements regarding the money invested by customers of his company. Customers are still waiting to see how much of their money that they can get back.
Wasendorf is the former CEO of the bankrupt company Peregrine Financial. The 64-year old was arrested for his crimes after a failed suicide attempt that left a suicide note.
The note, according to authorities, confessed 10 years of fraud and embezzlement. It allegedly states that he admitted to forging bank records because his firm was failing all because his ego could not handle it.
Investigations led to a discovery that the company cannot account for over$200 million in funds. The company filed for bankruptcy as well, so the customers do not have access to any of the money that they invested with the company.
According to bradenton.com, the indictment states that Wasendorf submitted false financial documents to the U.S. Commodity Futures Trading Commissions about the customer money between January 2010 and May 2012.
He could face up to155 years in prison if found guilty and convicted of every count with which he has been charged.The date for the arraignment has not been set as of yet, and Wasendorf's attorney could not be reached for a comment.
CEO Russ Wasendorf Sr. has been indicted with 31 counts of making false statements regarding the money invested by customers of his company. Customers are still waiting to see how much of their money that they can get back.
Wasendorf is the former CEO of the bankrupt company Peregrine Financial. The 64-year old was arrested for his crimes after a failed suicide attempt that left a suicide note.
The note, according to authorities, confessed 10 years of fraud and embezzlement. It allegedly states that he admitted to forging bank records because his firm was failing all because his ego could not handle it.
Investigations led to a discovery that the company cannot account for over$200 million in funds. The company filed for bankruptcy as well, so the customers do not have access to any of the money that they invested with the company.
According to bradenton.com, the indictment states that Wasendorf submitted false financial documents to the U.S. Commodity Futures Trading Commissions about the customer money between January 2010 and May 2012.
He could face up to155 years in prison if found guilty and convicted of every count with which he has been charged.The date for the arraignment has not been set as of yet, and Wasendorf's attorney could not be reached for a comment.
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